On June 2, 2026, the GIFT Nifty, an early indicator of the Nifty50's performance, dropped over 100 points, reflecting a decline of 172 points to 23,276. This downturn comes amid rising tensions between the US and Iran, as Iran announced a halt to negotiations and threatened to block the Strait of Hormuz due to ongoing ceasefire violations between Israel and Lebanon. US President Donald Trump expressed indifference towards the negotiations, indicating growing frustration. Consequently, most Asian markets also experienced declines, with the Nikkei 225 and Kospi falling by 1.63% and 2.48%, respectively. In the US, the Dow Jones Industrial Average and S&P 500 saw minor gains of 0.09% and 0.26%, while the Nasdaq Composite rose by 0.42%. Additionally, Brent crude oil prices fell to $94.46 per barrel, a decrease of 0.55%. In the IPO market, Merritronix's initial public offering is currently open for subscription, targeting ₹70.03 crore, while Aureate Tradde's IPO is set to close today, aiming to raise ₹27.29 crore.